Sinopec is upgrading the Abadan refinery to reduce fuel oil output and boost gasoline and distillates. Through expansions and new projects, Iran aims to become an established products exporter.

Chinese state oil giant Sinopec has finalized an agreement with Iran’s oil ministry for a $1.2bn upgrade of the 400,000 b/d Abadan refinery. Work on the project is expected to begin in December.

The project is intended to increase output of high-end Euro-4 spec gasoline and middle distillates...